NEW YORK (CNNMoney.com) - Back from vacation and back in the saddle ...

JP MORGAN: I'm a big believer in people, rather than just companies (for instance, is it really about Duke basketball, or is it more about Coach K.?) Right now I like this giant bank because of its new top dog, Jamie Dimon, who took over in January six months ahead of schedule. This is a guy who knows financial institutions. Now obviously JPM (Research) has a great deal of work to do, but some of their problems are in the rear view mirror already. Like bad Enron loans and other rotten telco lending. Plus Wall Street scandal stuff and troubles in its private equity business. Stock has moved from $34 to $42 over past six months, but I think over time you could do well here. (For more about Dimon, go here).

GM: So now the salaried workers feel the pinch. Reports this morning coming out that GM will pinkslip as many as 2,500 white collar workers -- out of 36,000 in the U.S. Comes on the heels of massive hourly worker downsizing..... Reports saying they are asking all salaried employees to come in today, even if on vacation. Puh-lease! Come back from Disneyland to get freakin' fired? That ain't right. But then again what is with this company? Stock (Research) has perked up a bit over the past week or so. I say stay away....

ISHARE MSCI JAPAN: This is an ETF (exchange traded fund) for the Nikkei (Japan's leading stock market index -- but you knew that.) Ticker is EWJ (Research). Basically this is a play on the recovery of the Japanese economy, which we have been waiting for since time immemorial, (really only 1990). The economy is improving no doubt, but this is a controversial play because we've seen signs of a pick-up before, only to watch the island nation fall back into another spell of no-growth. I think this time is for real though.....

Loose Change: Was in Hawaii last week, and despite some spicy weather, (actually it was pretty decent in Kona where we were), we had a great time. But never mind the weather, the economy there is awesome! Lowest unemployment rate in the U.S., help wanted signs everywhere. Building all over the place. Expensive of course, except for the papayas and the pineapples. (Coffee and macadamia nuts still pricey -- I prefer the wasabi macs....) Good to be back!

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E-mail Andy Serwer at serwer@fortunemail.com.

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